The Smart Nation initiative is Singapore’s vision to be an economically competitive global city and a liveable home.
This movement will involve the harnessing of digital technologies as we move towards the future of improved living and building a closer community, empowering citizens to achieve their aspirations, and encouraging business to innovate and expand.
Picture from Smart Nation and Digital Government Office
There are 5 driving forces to drive the adoption of digital and smart technologies in Singapore:
1. National Digital Identity
Citizens and businesses to transact digital in a convenient and secure manner.
Allows everyone to make simple, swift, seamless and safe payments.
3. Smart Nation Sensor Platform
Deployment of sensors and other Internet of Things (IoT) devices that will make our city more liveable and secure.
4. Smart Urban Mobility
Leveraging data and digital technologies, including artificial intelligence and autonomous vehicles, to enhance public transport services.
5. Moments of Life
Bundling government services, across different agencies, to the citizen at different moments.
This Smart Nation initiative provides a conducive environment for the digitalisation of business, where businesses transcend from the physical world into the digital world so that we can leverage the power of computing and software to automate processes and provide intelligence and actionable insights enabling business outcomes.
You can find more information about the Smart Nation here!
Picture from Straits Times
Singapore has moved towards becoming a cashless society and the nation has evolved greatly since one of the earliest initiative of the introduction of ez-link cards for public transport.
Since then, there has been a widespread acceptance of cashless payment, the high penetration of credit and debit cards, and a good level of mobile readiness. In the recent years, Android Pay, Apple Wallet and Samsung Pay usage have also risen.
With the increased smart technology adoption rate, consumers’ experience and expectations are also changing. Now, they expect information to be at their fingertips, faster service, and more personalisation including the understanding of their online behaviours.
In addition, the usage of technology is also available now at a lower cost. SMEs are able to get access to features like mobile payments that were only once available to the big competitors due to the high costs.
As a result, we can see more businesses adopting digital methods, such as the click-and-mortar business model. With the rising pressure from consumers and the competition in the market, businesses have to adapt and transform in tandem with society’s progression.
Are you interested in the different kinds of digital marketing methods? Stay tuned to our post tomorrow where we reveal the top 5 ways to market a brand digitally!